World — Our world changed a lot this year, and the ski industry was no different. Ski resorts were sold, millions visited the slopes, and some learned how to ski or ride. The ski industry saw a lot of changes, and there will likely be more growth in the years ahead. In honor of it being the end of 2024, here’s a recap of some of the biggest ski industry stories from this year.
Alterra Continues Gradual Expansion With Arapahoe Basin Purchase: While it’s not as big as Vail Resorts, the Alterra Mountain Company has acquired some big names since its incorporation in 2018. This year, Alterra’s growth continued with two acquisitions. The Mike Wiegele Helicopter Company was acquired in 2023, with the deal being finalized this year. The big one was acquiring Arapahoe Basin, the ski resort that was known for its independence in a state where mountains have been gobbled up by conglomerates. A-Basin also faced pushback for introducing paid parking during the weekends and holiday periods, though this seemed planned before Alterra’s acquisition. On the other hand, Alterra is no stranger to making major investments in its properties, meaning further improvements could be coming to the Colorado ski resort.
Homewood Mountain Resort’s Future Uncertain Due To Not Opening This Winter: After years of becoming an afterthought in Tahoe’s ski industry, Homewood Mountain Resort announced it wouldn’t open this winter due to a financial backer withdrawing its support. Locals, led by Keep Homewood Public, have feared that this was the latest sign that the ski resort intended to become private, which was its plan a few years ago. However, Homewood has spent the past few months trying to reassure the public that it plans to remain public. The latest update was that the Tahoe Advisory Planning Commission recommended approval of Homewood’s master plan, albeit with some contingencies. Homewood intends to reopen for the 2025-26 season if its revised master plan gets approved.
Indy Pass Grows Partners & Experiments With Ski Area Operations: Indy Pass has continued to grow its partners, with the big name added for this winter being Loveland Ski Area.
Perhaps its more interesting venture though is its revival of Black Mountain in New Hampshire. After saving it from closure last winter, Entabeni Systems, which owns the Indy Pass, announced the acquisition of Black this past fall. Major improvements were made this offseason, and guests have been raving about the experience there this winter. The goal is to make it a co-op (owned and operated by locals), with the process expected to be completed next year. While Indy has stated repeatedly it’s not in the ski resort ownership business, it does beg the question of whether Indy would consider such a strategy again in the future for another ski area that is struggling.
Mountain Capital Partners Faces The Challenges Of Growth: Mountain Capital Partners has become a big player in the ski industry with recent acquisitions like Lee Canyon, Sandia Peak, Valle Nevado, and Willamette Pass. However, MCP experienced growing pains this past year. Hesperus Ski Area didn’t open for the 2023-24 season due to the need for repairs to its sole chairlift. They decided not to operate it this winter as well, as they are trying to get a snowmaking system approved for the ski area. Over at Nordic Valley in Utah, its base lodge burned down, leading to a scattered operating structure for the years ahead. However, it acquired La Parva in Chile, earlier this year. The start of this season has been smoother, with early openings across MCP ski resorts.
Injuries & Comebacks Headline The Year In Ski Racing: The main story in ski racing was injuries. Shiffrin had two big ones, the first being “a sprain of the tibial-fibular ligaments” in January. In November, Shiffrin suffered a puncture wound on what seemed like it would be her 100th World Cup victory. Her fiance and also legendary ski racer Aleksander Aamodt Kilde suffered a devastating injury last season, which has kept him out of action through at least this World Cup season as well.
Comebacks were also a big part of this year. Sofia Goggia achieved victory in Beaver Creek after a ten-month absence. Meanwhile, Lindsey Vonn has returned to the World Cup circuit thanks to a surgery that drastically reduced the pain in her knee. She is hoping to compete in the 2026 Olympics. In a combined comeback/injury story, Marcel Hirscher returned to the World Cup circuit following a five-year retirement. However, a fall during training resulted in a torn ACL, possibly resulting in the end of his ski racing career.
POWDR Downsizes: It came as a shock in August when POWDR announced that it was selling Killington and Pico to a group of local investors. At the same time, POWDR announced that it was putting Eldora, Mt. Bachelor, and SilverStar on the market. These mountains haven’t sold yet, but it shows that POWDR is trying to diversify its portfolio. POWDR appears poised to become a major player in the national park concessionaire game, which is definitely in need of disruption. After announcing the deal earlier this year, POWDR will become the official concessionaire of Zion National Park tomorrow.
Vail Resorts Concludes Rocky Year On A Sour Note: A slow start to the 2023-24 season resulted in a tough hit financially for Vail Resorts. A subpar performances in their earnings reports resulted in a 10% drop in stock price this year. Vail Resorts responded to this with the announcement of a Resource Efficiency Transformation Plan, which is intended to reduce expenses and increase organizational efficiency. This plan is intended to help Vail Resorts continues to grow, meaning it wants to acquire more ski resorts. However, its brand image is currently taking a big hit as the strike by the Park City Professional Ski Patrol Association continues.
Image Credits: Homewood Mountain Resort, Black Mountain, Mountain Capital Partners, Vail Resorts
